IDB Holding Corp. Ltd. (TASE:IDBH) subsidiary Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS) and Alony Hetz Property and Investments Ltd. (TASE: ALHE) subsidiary Amot Investments Ltd. (TASE:AMOT) have jointly bought the 14,000-sq.m. Beit Aurec in Petah Tikva for $19.5 million. The building is leased to AIG Israel, 012 Golden Lines, and Golden Channels in long-term leases, and generates a net operating profit of $1.6 million a year for a return on investment of 8.2%.
This is the first time that IDB chairman and CEO Nochi Dankner and Alony Hetz chairman and CEO Natan Hetz are collaborating in real estate.
